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AccountMate for SQL and Express
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Accounts Payable Module
Instant Access to Vendor Information
Always have instant access to a vendor’s balance, open debit, available credit and year-to-date and accumulated-to-date purchase totals while posting an invoice for the vendor. Year-to-date purchase information is automatically calculated.
Enhanced Vendor Maintenance Functions
Vendor Ledger Card—Drill down information displays details of the vendor’s balance, showing the invoices, prepayments, payments and invoice distribution.
Activity Tab—Record and track in detail contacts made with the vendor. Define an unlimited number of activity records with contact phases for each activity. Access rights to view and/or update Activity tab entries can be defined by the user
Set up Authorized Referenced Accounts
Set up a list of General Ledger Account IDs that may be used when posting Accounts Payable invoices for a vendor to minimize data entry errors and control the transactions that affect your General Ledger Account balances.
AP Invoice Transaction—Information Tab
Invoice Payment Urgency Code
A payment urgency code can be assigned to each invoice to help prioritize invoice payments and check printing.
Warning about Duplicate Invoices
If a payable invoice with the same invoice number has been recorded for a vendor, an alert appears to help prevent duplicate invoice recording. Invoice look-up is also available during invoice posting to determine whether the invoice is paid or outstanding.
Automated Prepayment Features
With the prepayment invoice entry feature, you are able to process payments even before you receive a vendor’s invoice. AccountMate posts the disbursement to a prepayment General Ledger account and handles the expense posting when the prepayment is applied to vendor invoices.
Recurring Invoices
Recurring Accounts Payable invoice templates are easily set up for rent, loan payments and other recurring disbursements. Invoices can be set to recur at different intervals with a defined limit to the number of recurring cycles and/or a recurring end date.
Purchase Order Lookup
The capability exists to view all purchase orders for a selected vendor while posting an invoice helps in matching a purchase order to an invoice.
Mass Payment Authorization
Several invoices can be authorized for payment based on due date, urgency, discount date, vendor or reference. The system will automatically calculate early payment discount and payment amounts for each invoice.
Nonpayment Invoicing
When recording an invoice, designate the amount that will not be paid. This is especially useful when part of an invoice is paid directly by a third party or offset against a receivable.
Link with Purchase Order Module
Invoices can be matched to specific purchase order line items, providing you with the ability to monitor which of your received items have been invoiced. In addition, this feature provides the ability to enter the per unit invoiced cost of an item. The system compares the projected cost (taken from the Purchase Order) and the invoiced cost and reflects any difference in a cost variance account. In the same way, non-physical charges (such as freight and service charges) that were recorded when the goods were received can also be matched to the accounts payable invoice.
1099 Payments
You can set up a default 1099 type for each vendor and override the 1099 type when recording invoices. AccountMate tracks 1099 payments and produces the appropriate 1099 reports. You can also specify the minimum cumulative amount of each type of 1099 payment within the year that will require you to issue a Form 1099-Misc for the vendor.
Credit Card Handling
Credit cards are a payment option when setting up a vendor. When credit card vendors are set up, you can record purchases against each vendor account and record payment through one or several credit card companies. Journal entries are generated to reclassify the payable balance from the original vendor to the credit card companies.
Built-in Multi-Currency Feature
When multi-currency is activated, a foreign currency code can be assigned to a vendor, providing billing in the appropriate currency. The system automatically computes the realized gains or losses upon payment of foreign vendor invoices. Outstanding foreign currency invoices can be revalued based on a user-defined exchange rate as of a selected revaluation date.
Flexible Check Printing Options
Print checks on either pre-printed or logo check stock. You are able to customize the order in which the bank routing number, account number and check number are printed using the Microline font that comes standard with AccountMate. Checks can be printed immediately for petty cash-type disbursements.
Record Wire Payments and Handwritten Checks
This function allows users to record wire payments and handwritten checks that were issued outside of the regular check-printing cycle.
Record Cleared Checks
Users can view all outstanding Accounts Payable checks drawn against a bank account. Reconcile bank accounts quickly by matching the checks displayed on-screen against the current bank statement to easily identify which checks have cleared the bank.
Integration with Purchase Order
Integration with the Purchase Order module allows you to record and track a purchase transaction from order entry, through receipt and invoicing, to payment. This allows more effective management of your inventory and vendor relationships.
Other Features
- Aging periods can be defined
- Set up vendor alias to facilitate grouping of related vendor records
- Finance charges can be recorded in the system
- A variety of reports (i.e., showing discounts, checks, vendors and 1099 payments) can be generated
- Purchase order numbers can be required when entering invoices
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